Coffee with Craig Show – daily CRE news covering the CEE region, Friday, December 9 with Winston Norman, Editor and Chief of EuropaProperty.com.
Resi4Rent secures €50 million from EBRD for PRS development
The largest PRS player in Poland, Resi4Rent has secured financing to build a portfolio of subscription apartments. The European Bank for Reconstruction and Development (EBRD) has provided the company with a €50 million loan for new investments in the institutional rental market in cities hosting refugees from Ukraine. This is the first EBRD financing for the PRS sector in Poland.
The loan will be used to develop and operate a portfolio of subscription housing and will focus on new developments in cities that have received the largest number of Ukrainian refugees, such as Warsaw, Krakow, Wroclaw, Gdansk, Lodz and Poznan
Vlaho Kojakovic, EBRD’s director of real estate and tourism, said, “Poland needed an innovative solution to ease the pressure on the housing market. Rental housing providers such as Resi4Rent provide a quick supply of new housing units in a short period of time.”
Slawomir Imianowski, CEO of Resi4Rent stresses: “Although EBRD and Resi4Rent operate in different areas, it turns out that we have a lot in common when it comes to professed values.”
CTPark Bucharest south industrial park to deliver another 150,000 sqm
CTP is expanding the existing CTPark Bucharest South to 150,000 sqm.
CTP acquired the industrial park in 2021 and now is making new investments by developing a class A building with a leasable area of around 60,000 sqm, which adds to the 70,000 sqm fully leased and another 15,000 sqm soon to be delivered.
“We already have 70,000 sqm fully leased, another 15,000 sqm soon to be delivered and we’ll start the construction for 60,000 sqm. With this extension, CTPark Bucharest South will reach 150,000 sqm, all the infrastructure is already prepared for this”, commented Ana Dumitrache, Country Manager CTP Romania.
Apart from CTPark Bucharest South, CTP owns five other industrial parks around the capital, including in the western area (CTPark Bucharest West and CTPark Bucharest on the A1 motorway) and in the northern area (CTPark Chitila, CTPark Mogoșoaia, and CTPark Bucharest North).
Nokian Tyres to invest in a greenfield factory in Romania
Nokian Tyres will invest in a new car tyre factory in Romania. The new greenfield factory will be located in Oradea in the North-West of Romania, near the Hungarian border. The annual capacity of the factory will be 6 million tires with expansion potential in the future. The site will also house a distribution facility for the storage and distribution of tires. The total investment is estimated to be around EUR 650 million. Construction is scheduled to begin in early 2023 and the first tires are estimated to be produced in the second half of 2024. Commercial tire production is expected to start in early 2025.
“This investment is a significant strategic decision enabling our future growth. A world-class manufacturing facility in Europe is a key step in getting additional capacity and creating a balanced manufacturing platform as we start building the new Nokian Tyres without Russia,” says Jukka Moisio, President and CEO of Nokian Tyres.
Cushman & Wakefield’s office in Warsaw awarded WELL certification
The Warsaw office of Cushman & Wakefield has been awarded WELL Certification at the GOLD level. WELL is the premier space standard focusing on the health, comfort, and well-being of building users.
“The WELL certificate awarded to the Warsaw office of Cushman & Wakefield is confirmation that we prioritise our employees’ health and wellbeing,” comments Krzysztof Misiak, MRICS, Executive Partner, Head of Poland.